Two senior executives at PHH Corp. (PHH), including the company’s mortgage division president, resigned to pursue other interests, the company said.
Luke Hayden, mortgage division president since 2010, and Mark Johnson, treasurer of PHH Corp. since 2005, stepped down effective immediately. PHH declined to comment further on the changes.
Smriti Laxman Popenoe replaces Hayden on an interim basis while PHH searches for a permanent mortgage president. Popenoe also serves as chief risk officer, and previously worked at Wachovia and Freddie Mac.
Richard Bradfield takes over Johnson’s spot as senior vice president and treasurer. Bradfield previously served as capital markets senior vice president for the mortgage division.
The transition of executives continues after Glen Messina took the helm of PHH Corp. early this year, stemming from the resignation of former chief executive and president Jerome Selitto.
The search for a permanent chief financial officer also continues, a PHH spokeswoman said. The company’s CFO, David Coles, is still considered interim after he joined in March 2011.
The Mt. Laurel, N.J.-based company is the subject of an ongoing investigation by the Consumer Financial Protection Bureau. The agency said in January it was looking into whether PHH’s mortgage insurance practices violated the Real Estate Settlement Procedures Act.
PHH recorded a $127 million loss, or $2.26 a share, in 2011.
